Japanese Investment Fund Receives Support from TotalEnergies for Hydrogen Development
Key Ideas
- Japanese Hydrogen Association's fund, supported by TotalEnergies, aims to bolster hydrogen's development globally.
- TotalEnergies is the sole non-Japanese investor and views the fund as 'ambitious'.
- Major Japanese companies like Toyota and Sumitomo are also part of this initiative.
- Hydrogen, though in early stages, is being considered alongside other alternative fuels like LNG by the shipping industry.
A Japanese investment fund, managed by Advantage Partners and initiated by the Japanese Hydrogen Association, has garnered support from French energy firm TotalEnergies to boost the development of low-carbon energy, particularly hydrogen, in Japan and globally. TotalEnergies' involvement, as the only non-Japanese investor in the fund, is seen as a positive step towards advancing hydrogen technologies. Partners in this venture also include prominent Japanese entities like Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation. While hydrogen is still in its early developmental phase compared to other alternative fuels like liquefied natural gas (LNG), the shipping industry is exploring its potential as a sustainable energy source. This collaboration signifies a collective effort to promote hydrogen as a viable low-carbon energy solution on a larger scale.